SURFACE COATINGS, INC.
|
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
| Income Statement [Abstract] | ||||
| Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
| Cost of Sales | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 |
| Operating Expenses: | ||||
| General and Administrative | 6,395 | 14,045 | 12,307 | 20,340 |
| Total Operating Expenses | 6,395 | 14,045 | 12,307 | 20,340 |
| Net income (loss) from continuing operations | (6,395) | (14,045) | (12,307) | (20,340) |
| Net income (loss) from discontinued operations | 0 | 0 | 0 | 0 |
| Net income (loss) | $ (6,395) | $ (14,045) | $ (12,307) | $ (20,340) |
| Basic and diluted average weighted shares outstanding | 3,939,000 | 3,789,000 | 3,939,000 | 3,789,000 |
| Basic and diluted net loss per share from continuing operations | $ 0.00 | $ 0.00 | $ 0.00 | $ (0.01) |
| Basic and diluted net loss per share from discontinued operations | $ 0.00 | $ 0.00 | $ 0.00 | $ (0.01) |
| Basic and diluted net income (loss) per share | $ 0.00 | $ 0.00 | $ 0.00 | $ (0.01) |
|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
|
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net Income (Loss) | $ (6,395) | $ (14,045) | $ (12,307) | $ (20,340) |
| Change in Assets and Liabilities | ||||
| Change in Accounts Payable | (12,863) | 9,000 | ||
| Change in Accounts Payable - Related Party | 25,170 | 11,250 | ||
| CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES | 0 | (90) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| NET (DECREASE) IN CASH | 0 | (90) | ||
| Cash, beginning of period | 0 | 300 | ||
| Cash, end of period | $ 0 | $ 210 | $ 0 | $ 210 |
|
NOTE 5 Financial Condition and Going Concern
|
6 Months Ended |
|---|---|
|
Jun. 30, 2014
|
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| NOTE 5 Financial Condition and Going Concern |
NOTE 5 – FINANCIAL CONDITION AND GOING CONCERN
The Company has an accumulated deficit through June 30, 2014 totaling $337,894 and had negative working capital of $96,751. Surface Coatings’ consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Surface Coatings has suffered losses since inception and has no operations to generate revenue or cash flows. These conditions raise substantial doubt as to Surface Coatings’ ability to continue as a going concern.
The Company will rely on shareholder advances or will seek alternate capital funding to fund the Company’s activities while the Company takes steps to locate and negotiate with a business entity through acquisition, or merger with, an existing company; however, there can be no assurance these activities will be successful.
|